Atlas Energy Solutions (NYSE:AESI) Sets New 1-Year Low – Time to Sell?

Atlas Energy Solutions Inc. (NYSE:AESI)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $8.16 and last traded at $8.3820, with a volume of 232226 shares changing hands. The stock had previously closed at $8.57.

Analyst Upgrades and Downgrades

AESI has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Atlas Energy Solutions in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Atlas Energy Solutions from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Monday. Citigroup dropped their price target on shares of Atlas Energy Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. The Goldman Sachs Group downgraded Atlas Energy Solutions from a “neutral” rating to a “sell” rating and cut their target price for the stock from $12.00 to $8.00 in a research report on Thursday. Finally, Stifel Nicolaus lowered their price target on Atlas Energy Solutions from $14.50 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.94.

Atlas Energy Solutions Trading Down 4.8%

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.35 and a quick ratio of 1.09. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -91.50 and a beta of 1.18. The business has a 50 day moving average of $10.80 and a 200 day moving average of $12.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AESI. Vanguard Group Inc. boosted its holdings in Atlas Energy Solutions by 16.5% during the first quarter. Vanguard Group Inc. now owns 8,054,677 shares of the company’s stock worth $143,695,000 after purchasing an additional 1,139,352 shares during the last quarter. Cooperman Leon G increased its holdings in Atlas Energy Solutions by 4.0% during the third quarter. Cooperman Leon G now owns 5,366,363 shares of the company’s stock worth $61,016,000 after buying an additional 204,268 shares during the last quarter. Cooke & Bieler LP raised its position in Atlas Energy Solutions by 29.0% during the third quarter. Cooke & Bieler LP now owns 4,153,554 shares of the company’s stock worth $47,226,000 after acquiring an additional 934,114 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Atlas Energy Solutions by 15.6% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,324,340 shares of the company’s stock valued at $37,798,000 after acquiring an additional 447,557 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in Atlas Energy Solutions in the 1st quarter valued at about $43,614,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.